Kaushik Basu on odds of ‘L-shaped’ recovery

Kaushik Basu has a new piece being carried by Project Syndicate that appeared in The Global Times, one of China's leading English language news sites. Titled 'Policy stasis raises odds of 'L-shaped' recovery', it cautions that the tenuous recovery in advanced countries, while buoyed by the latest US indicators, will only hold if economists and policymakers move away from ‘stasis’ positions that fail to promote entrepreneurship and innovation.

He warns that avoiding analytical creativity is dangerous and stresses that, at times, intuition and theory are needed to get out of economic ruts and to keep up with the pace of technological change in our globally integrated world.